(Reuters) – Intel Corp said on Wednesday it will sell a fifth of its stake in IMS Nanofabrication to private equity firm Bain Capital in a deal that values the Austrian chip maker at $4.3 billion.
The sale of Intel’s 20% stake was valued at $860 million, according to Reuters calculations.
IMS, which was acquired by Intel in 2015, makes essential equipment for companies that make chips.
Intel said it delivered a great return on investment for Intel as it quadrupled its workforce and production capacity.
Intel said Bain Capital’s investment in IMS will position it to capture significant market share for its gadgets that are being widely adopted by chipmakers.
(Reporting by Akash Sriram and Shafi Mehta in Bengaluru; Editing by Sriraj Kalovila and Chingini Ganguly)
